TIP 48: Liquidity Bootstrappening Part 3 - Threshold DAO x Wormhole
Wormhole is excited to submit a proposal to the Threshold DAO to help bridge tBTC beyond Ethereum and significantly deepen tBTC liquidity across all chains.
For Wormhole, tBTC offers a compelling potential cross-chain canonical BTC for the network across both EVM and non-EVM chains.
The goal of this proposal is to facilitate tBTC growth into one of the top BTCs used in on-chain DeFi by engaging one or more experienced liquidity providers and providing an incentive to mint large volumes of tBTC in exchange for the option to purchase T from the Threshold DAO treasury, with a tertiary benefit of solidifying the Threshold DAO treasury via significant exercise proceeds.
tBTC per chain launch details are outside the scope of this proposal and details are thus omitted.
Full Proposal:
Off-Chain Vote
Yes
1.06B T100%
No
0 T0%
Abstain
0 T0%
Timeline
Apr 24, 2023Proposal created
Apr 24, 2023Proposal vote started
Apr 29, 2023Proposal vote ended
Oct 26, 2023Proposal updated